Berlin-based restaurant reservation service and network Quandoo has been acquired by Japanese Recruit Holdings for €198.6 million (or around $220 million). The deal has been realized by transferring the remaining 92.91% shares in the German company where 7.09% has already belonged to a Recruit affiliate.
Founded in late 2012 by Philipp Magin, Ronny Lange, Sebastian Moser, Tim-Hendrik Meyer and Daniel P. Glasner, Quandoo has quickly grown into a global real-time reservation platform for restaurants. It already claims leadership in many European countries and some key markets in the Middle East and Asia.
“We envisage the acquisition of Quandoo allows us to become global market leader in the restaurant space in the coming years.” says Kazumasa Watanabe, Corporate Executive Officer at Recruit. Japanese company says it will make sure there will be strong integration and expertise sharing between its restaurant information platform Hotpepper Gourmet in Japan and Quandoo in Europe and the Middle East.
Quandoo runs a massive restaurant network where people can browse, search and make reservation with around 6,000 restaurants and cafes across 145 cities in 13 countries across 3 continents. It says it has seated more than 6 million diners so far.
Philipp Magin, CEO and Founder of Quandoo, said “We are only at the beginning of our exciting journey to reinvent the way both diners and restaurants use online and mobile services to connect with each other. Being a part of the Recruit family allows us to accelerate in shaping the global restaurant space, entering new markets and launching new products”.
German company has raised more than €30 million in venture capital so far, the last one being around €20 million in July 2014. Below you can watch again the video interview and office tour hosted by Philipp last October in Quandoo headquarters in Berlin.